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Council advances Burger Organization’s 10 Park Place affordable-housing plan — 196 units, $130 million project seeks HMFA financing
Summary
The council advanced and adopted on first reading an ordinance to enable a Burger Organization project at 10 Park Place to seek HMFA financing and a long-term tax exemption. The proposal calls for 196 units (195 deed-restricted), deep-discounted retail, a $130 million cost and a potential 35-year PILOT; council members demanded full documentation before the final vote.
Allison Lad, director of economic and housing development, described a proposed redevelopment at 10 Park Place by the Burger Organization that would convert the former Fireman's Insurance building into 196 residential units, with 195 deed-restricted affordable units and one management unit.
"They are seeking HMFA financing to do 100% affordable housing on the site," Lad said, and said the project includes 53 studios, 16 two-bedrooms and 10 three-bedrooms, set-asides of 10% for seniors and 10% for artists, 3,000 square feet of ground-floor retail offered at about $20 per square foot (about 50% below market), a total project cost of $130 million and a request for a long-term tax exemption (a PILOT) under the HMFA statute for up to 35 years.
Council members praised the affordability aims but repeatedly raised procedural concerns. Councilwoman Bay and others asked for a follow-up meeting and more granular unit mix and pricing information for seniors and artists. Councilman Ramos and Councilman Gonzalez warned that the council needed the backup documentation to evaluate the PILOT’s fiscal impact and to avoid creating a precedent for last-minute agenda additions.
Because HMFA financing carries application deadlines, the council agreed to "advance and adopt" on first reading to meet the application schedule, but multiple members insisted the administration provide full documentation and department-level answers before the council’s next vote. The ordinance is recorded in the transcript as agenda item number 260781.
Next steps: The council recorded a roll-call vote to advance and adopt the ordinance on first reading; administration and the tax-abatement committee said supporting paperwork will be distributed ahead of the June 17 vote so members can review unit breakdowns, pricing and community benefits.
